Texas County & District Retirement System (TCDRS), with US$23 billion net assets, has committed US$50 million to Asian private equity firm Baring Private Equity Asia’s sixth pan-regional fund, according to media reports.
Just last week, the fund has reportedly reached a US$3.2 billion first close.
Other limited partners (LPs) in Baring’s sixth fund include Pennsylvania Public School Employees’ Retirement System (PSERS), which committed US$100 million.
San Francisco City & County Employees’ Retirement System is committing up to US$50 million.
Baring’s fifth fund closed at US$2.46 billion in January 2011. Its fourth fund closed in 2008 at US$1.52 billion.
Founded in 1997, Baring has over US$5 billion under management in total.